Vulcan Flyovers offers scenic overflights of Mount St. Helens, the volcano in Washington State that explosively erupted in 1982. Data concerning the company's operations in July appear below: Vulcan Flyovers Operating Data For the Month Ended July 31 Actual Flexible Planning Results Budget Budget 59 1655 $20.945 Flights (q) Revenue (S355.00q) Expenses: 61 61 $16,100 Wages and salaries (S3,200 $88.00q) Fuel ($32.00q) Airport fees (S850$33.00q) Aircraft depreciation ($9.00q) Office expenses (S220+ $1.00q) 8,568 1,952 2,863 549 281 14,213 8,392 1888 2,797 531 8,532 2,713 549 449 14,361 Total expense Net operating income 13-887 S 1,739 7.442 S7.058 The company measures its activity in terms of flights. Customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. Required 1. Complete the fiexible budget performance report abstract for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Vulcan Flyovers Flexible Budget Performance Report For the Month Ended July 31 Revenue and S Variances Variances Revenue Expenses: Wages and salaries Fuel Airport fees Aircraft depreciation Office expenses Total expense Net operating income